Black Stone Minerals, L.P. (NYSE:BSM) Announces Quarterly Dividend of $0.38

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Thursday, April 17th, Wall Street Journal reports. Investors of record on Thursday, May 8th will be given a dividend of 0.375 per share by the oil and gas producer on Thursday, May 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.27%. The ex-dividend date of this dividend is Thursday, May 8th.

Black Stone Minerals has a dividend payout ratio of 123.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Black Stone Minerals to earn $1.44 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 131.9%.

Black Stone Minerals Stock Performance

Shares of Black Stone Minerals stock opened at $14.60 on Friday. Black Stone Minerals has a one year low of $12.80 and a one year high of $16.92. The company has a market cap of $3.08 billion, a P/E ratio of 9.01 and a beta of 0.52. The firm has a fifty day moving average of $14.77 and a two-hundred day moving average of $14.87.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). The business had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. As a group, equities analysts predict that Black Stone Minerals will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSM. Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th. Piper Sandler raised their target price on shares of Black Stone Minerals from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, StockNews.com cut Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.